Reply to How much do you need for an UMC retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I approach it from the expense side.  I think for us, we will need $14K per month to stay here in a home mortgage free.

We have a pension that will generate $6K (if taken today at age 55), another $6K (today) in SS for two at FRA.  Not all of that income will be there the day we retire.

So for a certain number of years our funding gap is $8K per month or $96K annually.  And then that gap goes down to $2K.

We have $4.5M in retirement, brokerage and cash.  Assuming a 3% withdraw rate to be conservative.[/quote]

if you have no mortgage, what are  you spending 14K a month on??  Sheesh! Kids will be out of the house...etc[/quote]

DP:

We own a 2 homes, no mortgages.  Taxes and HOA (one is a condo) between the 2 is $5K/month.  Add in utilities, landscaper, general maintenance for the house and I'd estimate $8K in fixed costs.  
Now add home and auto insurance and cell phones and health care costs: $2-3K
So I'm at 10-11K and we haven't eaten or travelled or put gas into the cars or bought clothing/shoes/anything else.  
So it's not difficult to see how someone can get to $14K.  However that is not UMC.  That is rich and I admit that

[/quote]
>2 houses
You’ll get the guillotine first, you know that, right?[/quote]

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